Vail to buy Peak Resorts

CONSOLIDATION in the global ski market continued overnight with confirmation that Vail Resorts will add 17 additional US ski areas to its portfolio.

Vail has come to a US$264m agreement to acquire 100% of NASDAQ-listed Peak Resorts, which operates a range of ski and snowboard areas, mostly in the eastern United States.

“We are incredibly excited to have the opportunity to add such a powerful network of ski areas to our company,” said Vail Resorts CEO Rob Katz.

“Peak Resorts’ ski areas in the Northeast are a perfect complement to our existing resorts,” he added, with the additions providing new Vail ski options in Vermont, New York, New Hampshire, Pennsylvania, Ohio, Missouri and Indiana.

Once the deal is finalised, Vail’s 2019-20 Epic Pass season pass product will include unlimited and unrestricted access to the 17 Peak Resorts ski areas.

In addition, for the 2019-20 season Vail will continue to sell all Peak Resorts pass products, with existing passholders able to upgrade to an Epic Pass after the transaction closes.

Vail’s Epic Pass offers access to Perisher, Falls Creek and Mt Hotham in Australia, as well as a host of North American properties including Whistler Blackcomb, Vail, Beaver Creek, Breckenridge, Heavenly, Northstar & Kirkwood.

There’s also limited access to partner resorts including seven days at Telluride and Sun Valley, five consecutive days at Hakuba Valley and Rusutsu in Japan, and Les 3 Valees in France and Skirama Dolomiti in Italy.

The Peak Resorts deal is expected to settle before the 2019-20 winter season kicks off.